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PRVBX Permanent Portfolio Versatile Bond I

  • Fund
  • PRVBX
  • Price as of: Aug 19, 2019
  • $61.38 - $0.04 - 0.07%
  • Category
  • Corporate Bonds

PRVBX - Profile

Vitals

  • YTD Return 7.0%
  • 3 Yr Annualized Return 1.6%
  • 5 Yr Annualized Return -0.7%
  • Net Assets $18.7 M
  • Holdings in Top 10 31.2%

52 WEEK LOW AND HIGH

$61.38
$57.04
$61.42

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.22%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 40.36%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$1,000

Investment Themes

CATEGORY

Corporate Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style Corporate Bond

Distributions

  • YTD Total Return 7.0%
  • 3 Yr Annualized Total Return 1.6%
  • 5 Yr Annualized Total Return -0.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.42%
DIVIDENDS
  • Dividend Yield 1.6%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Permanent Portfolio Versatile Bond Portfolio
  • Fund Family Name Permanent Portfolio
  • Inception Date Sep 27, 1991
  • Shares Outstanding N/A
  • Share Class No Load
  • Currency USD
  • Domiciled Country United States
  • Manager Michael J. Cuggino

Fund Description

In pursuit of its investment objective, under normal market conditions, the fund invests at least 80% of its assets in bonds, which may include debt securities of all types and of any maturity. The adviser may invest in bonds with a range of maturities from short- to long-term and does not attempt to maintain any pre-set average portfolio maturity or duration. Its duration will vary, depending on the investment adviser's forecast of interest rates and its assessment of market risks generally. The fund may invest in both "investment grade" and "below investment grade" bonds.

PRVBX - Performance

Return Ranking - Trailing

Period PRVBX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.0% -4.4% 12.9% 63.68%
1 Yr 4.1% -7.1% 9.4% 59.64%
3 Yr 1.6%* -3.0% 2.3% 5.53%
5 Yr -0.7%* -5.1% 2.3% 75.70%
10 Yr 0.1%* -4.8% 3.0% 75.20%

* Annualized


Return Ranking - Calendar

Period PRVBX Return Category Return Low Category Return High Rank in Category (%)
2018 0.3% -11.7% 2.7% 1.35%
2017 -2.5% -2.5% 8.3% 100.00%
2016 10.9% -3.1% 11.6% 1.87%
2015 -11.2% -18.3% 0.0% 98.13%
2014 0.1% -8.4% 12.3% 60.87%

Total Return Ranking - Trailing

Period PRVBX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.0% -4.4% 12.9% 63.68%
1 Yr 4.1% -6.2% 9.4% 62.33%
3 Yr 1.6%* -1.4% 5.9% 27.65%
5 Yr -0.7%* -2.4% 5.2% 89.72%
10 Yr 0.1%* -1.8% 9.0% 91.20%

* Annualized


Total Return Ranking - Calendar

Period PRVBX Return Category Return Low Category Return High Rank in Category (%)
2018 0.3% -11.7% 3.9% 3.59%
2017 -2.5% -2.5% 11.6% 100.00%
2016 10.9% -3.1% 17.7% 7.94%
2015 -11.2% -16.2% 3.7% 98.60%
2014 0.1% -8.0% 17.6% 74.88%

NAV & Total Return History

PRVBX - Holdings

Concentration Analysis

PRVBX Category Low Category High PRVBX % Rank
Net Assets 18.7 M 10.5 M 30.6 B 98.21%
Number of Holdings 52 11 2258 97.31%
Net Assets in Top 10 6.18 M -369 M 4.19 B 93.72%
Weighting of Top 10 31.21% 2.7% 149.5% 32.29%

Top 10 Holdings

  1. Apollo Management Holdings, L.P. 4% 4.21%

  2. El Paso Energy Capital Trust I 4 3/4% Trust CONVERTIBLE Preferred Securitie 4.02%

  3. RLJ Lodging Trust USD 1.95 Cum Conv Pfd Registered Shs Series -A- 3.36%

  4. The Interpublic Group of Companies, Inc. 4% 3.13%

  5. Hyatt Hotels Corporation 3.38% 3.09%

  6. Ford Motor Credit Company LLC 3.23% 3.04%

  7. Owens Corning 4.2% 2.65%

  8. Phoenix Companies Inc 0% 2.60%

  9. Carpenter Technology Corporation 5.2% 2.58%

  10. Agrium Inc. 3.38% 2.55%


Asset Allocation

Weighting Return Low Return High PRVBX % Rank
Bonds
71.27% 26.37% 172.46% 94.17%
Preferred Stocks
13.79% 0.00% 26.16% 0.90%
Cash
11.85% -83.29% 73.39% 8.07%
Convertible Bonds
3.09% 0.00% 16.92% 21.52%
Stocks
0.00% -2.89% 8.28% 58.74%
Other
0.00% -34.36% 11.33% 50.67%

Bond Sector Breakdown

Weighting Return Low Return High PRVBX % Rank
Corporate
88.15% 0.00% 100.10% 39.91%
Cash & Equivalents
11.85% -83.37% 73.39% 8.07%
Derivative
0.00% -5.59% 69.77% 39.46%
Securitized
0.00% 0.00% 115.76% 87.00%
Municipal
0.00% 0.00% 21.09% 67.26%
Government
0.00% -29.13% 54.13% 89.24%

Bond Geographic Breakdown

Weighting Return Low Return High PRVBX % Rank
US
67.20% 0.00% 153.23% 82.06%
Non US
4.07% 0.00% 58.60% 93.72%

PRVBX - Expenses

Operational Fees

PRVBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.22% 0.00% 3.46% 30.04%
Management Fee 1.19% 0.00% 1.70% 98.21%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.40% N/A

Sales Fees

PRVBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 0.00% 5.50% N/A

Trading Fees

PRVBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PRVBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 40.36% 0.00% 1209.00% 28.70%

PRVBX - Distributions

Dividend Yield Analysis

PRVBX Category Low Category High PRVBX % Rank
Dividend Yield 1.60% 0.00% 2.63% 74.89%

Dividend Distribution Analysis

PRVBX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Monthly Monthly

Dividend Payout History


Net Income Ratio Analysis

PRVBX Category Low Category High PRVBX % Rank
Net Income Ratio 3.42% 0.12% 5.67% 39.46%

Capital Gain Distribution Analysis

PRVBX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

PRVBX - Managers

Michael J. Cuggino

Manager

Start Date

Tenure

Tenure Rank

May 01, 2003

16.26

16.3%

Mr. Cuggino has been the President, Chief Executive Officer, and a Portfolio Manager with Pacific Heights Asset Management, LLC, ("PHAM") since its founding in 2002. Cuggino has been a director since 1998 and has been the Chairman of the Board, President since 2003 and Secretary since 2006. From 1993 through 2007, he also served as Treasurer. Prior to his organization of Pacific Heights, he served as a consultant to World Money Managers from 1991 to 2003.


Tenure Analysis

Category Low

0.01

Category High

23.51

Category Average

6.16

Category Mode

1.33